Ripple Issues $449M Stablecoin, Then Burns Almost All Of It
Ripple has issued $449.3 million worth of its stablecoin RLUSD on the XRP Ledger over a 30-day period.
However, it burned $448.9 million of this amount during the same timeframe, effectively removing 99% of the newly issued tokens.
This large-scale minting and burning activity highlights Ripple's control over RLUSD supply and its potential strategy to manage liquidity or market dynamics.